Telenor (OSL:TEL) New Timeframe For Closing Of India Transaction

Telenor (OSL:TEL) (Fornebu, 23 January 2009) Telenor has earlier communicated that closing of the Unitech Wireless transaction in India would take place during January. Completion of the transaction is now expected to take place during the first quarter of 2009.

On 23 December 2008, Telenor announced that it expected to close the Unitech Wireless transaction during January 2009. Closing is subject to certain conditions being fulfilled, and Telenor now anticipates that closing of the transaction will take place during the first quarter of 2009.

Telenor remains confident that all conditions will be met within the indicated timeframe, including agreements for infrastructure sharing that will allow a swift and cost-efficient rollout.

For further information please contact: Esben Tuman, Information Manager, Telenor Asia, Phone: +66 859 184 111, Pål Kvalheim, Vice President Communication, Telenor ASA, Phone: +47 970 44 970

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Telenor

http://www.telenor.com

ISIN: NO0010063308

Stock Identifier: OSE.TEL

US: Nasdaq:TELN